Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

Sam Bankman-Fried says he 'didn't ever try to commit fraud'

NEW YORK, Nov 30 (Reuters) – Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ … Read more

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

Deal comes amid pressure from Chinese shareholder Analysts hail ‘sensitive’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout … Read more

Twitter CEO Musk says user signups at all-time high, all features of “everything app”

Twitter CEO Musk says user signups at all-time high, all features of "everything app"

Nov 27 (Reuters) – Twitter Inc Chief Executive Elon Musk says new user signups to the social media platform are at an “all-time high”, as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech. Signups were averaging over two million per day in … Read more

Foxconn’s woes to take bigger toll on giant China iPhone plant as more workers leave -source

Foxconn's woes to take bigger toll on giant China iPhone plant as more workers leave -source

Foxconn Zhengzhou plant’s Nov shipments to fall further – source Worker unhappiness at plant escalated into protests this week Over 20,000 workers, mostly new recruits, have left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone plant in China is set to see its November shipments further reduced by the latest bout of … Read more

Women sue Deutsche Bank, JPMorgan over Epstein ties

Women sue Deutsche Bank, JPMorgan over Epstein ties

Nov 24 (Reuters) – Women who have accused Jeffrey Epstein of sexual abuse filed lawsuits against Deutsche Bank AG (DBKGn.DE) and JPMorgan Chase & Co (JPM.N) on Thursday, alleging the banks financially benefited from the late financier’s alleged sex trafficking operations. The women, who were not identified in the court filings, cite US federal anti-sex … Read more

Foxconn apologises for pay-related error at China iPhone plant after worker unrest

Foxconn apologises for pay-related error at China iPhone plant after worker unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over pay, terms Apple says it has team on the ground in Zhengzhou TAIPEI/SHANGHAI, Nov 24 (Reuters) – Foxconn (2317.TW) said on Thursday a pay-related “technical error” occurred when hiring new recruits at a COVID-hit iPhone factory in China … Read more

Exclusive: How FTX bought its way to become the ‘most regulated’ crypto exchange

Exclusive: How FTX bought its way to become the 'most regulated' crypto exchange

FTX bought a 10% stake in IEX with an option to acquire 100% FTX spent $2 billion on ‘acquisitions for regulatory purposes’ Documents show FTX saw its regulatory status as a way of luring new capital from major investors Nov 18 (Reuters) – Before it collapsed this month, FTX stood apart from many rivals in … Read more

Elon Musk trial opens to decide fate of his $56 bln Tesla pay

Elon Musk trial opens to decide fate of his $56 bln Tesla pay

WILMINGTON, Del, Nov 14 (Reuters) – A trial opened on Monday over shareholder allegations that Tesla Chief Executive Elon Musk’s $56 billion pay package was rigged with easy performance targets and that investors were duped into approving it, with Musk slated to take the stand later this week. A Tesla (TSLA.O) shareholder hopes to prove … Read more

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Exclusive: Behind FTX's fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that … Read more

Nike suspends ties with Kyrie Irving, cancels next shoe release

Nike suspends ties with Kyrie Irving, cancels next shoe release

Nov 4 (Reuters) – Nike Inc. on Friday suspended its relationship with Brooklyn Nets star Kyrie Irving and canceled its next Irving-branded shoe release in the aftermath of his promotion of an anti-Semitic documentary. The Nets had already suspended Irving at least five games after he stopped short of fully disavowing the documentary on two … Read more